David Cameron: we haven't ruled out freezing assets of Roman Abramovich

David Cameron said today he had not ruled out freezing the assets of Russian
oligarch Roman Abramovich and warned anyone supporting the 'destablisation
of Ukraine' could be targeted

Roman Abramovich with Dasha ZhukovaPhoto: Getty Images

By Agencies

1:37PM GMT 21 Mar 2014

David Cameron today warned that anyone who was directly linked to the 'destabilsation of Ukraine' could face an EU travel ban or asset freeze.

The Prime Minster said he had not ruled out anyone when asked if it could apply to Russian oligarch Roman Abramovich.

"We certainly haven't ruled anyone out from this approach but as I say the EU approach and the way it works under the laws we have is that you need to target people who have a direct relationship with the action that has been taken," he told a press conference in Kiev today.

"That is why if you go back a couple of weeks I said very clearly it should include Russian members of Parliament. They have acted to vote again and again to accept this illegal referendum to annex the Crimea to Russia, they are part of the problem, they are part of the cause of this so they should be targeted.

"And the same should apply in terms of military advisers, presidential advisers, and yes anyone else if there's a direct link between what they are doing and the situation with Russian destablisation of Ukraine.

"So that's the approach we should take and people who get involved in that should know that they are liable possibly to be subject to an EU travel ban or asset freeze."

EU leaders, including Mr Cameron, agreed last night to add 12 names to the list of senior figures from the Moscow regime to face travel bans and asset freezes in response to what the Prime Minister described as "unacceptable" actions by Russia.

US President Barack Obama stepped up action against Moscow by putting billionaire oligarch businessmen - including Vladimir Putin's banker Yury Kovalchuk - on a blacklist of regime figures who will face sanctions from America.

But opposition leader Alexey Navalny - a former candidate for Moscow mayor - said there should also be sanctions against oligarchs who have made a home in the West, like Chelsea FC owner Abramovich.

"Real sanctions, such as blocking access to their plush London apartments, will show that Mr Putin's folly comes with serious costs," wrote Mr Navalny in the New York Times.

The Prime Minsiter today warned Russia it faces international isolation and tighter sanctions unless Moscow takes steps to de-escalate the crisis in Ukraine.

The European Union had agreed a range of measures in response to Moscow's annexation of Crimea, including trade restrictions on the ''occupied'' peninsula.

Mr Cameron has joined other EU leaders in signing an agreement with Ukraine which aligns the new administration in Kiev more firmly with Europe.

Former president Viktor Yanukovych's refusal to sign the Association Agreement with the EU last November triggered the protests which led to his overthrow. Interim prime minister Arseniy Yatsenyuk travelled to Brussels to sign political provisions of the agreement today, with the EU committed to finalising the economic elements soon.

The move follows the EU's decision to expand its blacklist of Russian officials and politicians subject to travel bans and asset freezes by 12 names to reach a total of 33, in retaliation for Russia's annexation of the Ukrainian region of Crimea.

The upper house of the Russian parliament today approved the absorption of Crimea into the Russian Federation following last weekend's referendum, in which residents of the Black Sea peninsula overwhelmingly backed a breakaway from Ukraine. The move, approved yesterday by the Duma in Moscow, was completed with the signature of President Vladimir Putin.

At a press conference following the summit in Brussels Mr Cameron said: ''Our message to Russia is clear: choose the path to diplomacy and de-escalation or face increasing isolation and tighter and tighter sanctions.''

He condemned the ''sham and illegal referendum'' in Crimea, which ''has taken place at the barrel of a Kalashnikov''.

''Russia has sought to annex Crimea,'' he said. ''This is a flagrant breach of international law and something we will not recognise. This behaviour belongs to the Europe of the last century not this one. It cannot be ignored or we risk more serious problems in the future.

''So it was very important that the European democracies represented here should send a strong and united message that Russia should face further consequences, and that is what we have done.

''We have subjected 12 more individuals to travel bans and asset freezes, bringing the total to 33. We have cancelled the EU-Russia summit, agreed not to hold bilateral summits and we'll block Russian membership of the Organisation for Economic Co-operation and Development and the International Energy Agency.

''We have agreed to rapidly implement economic, trade and financial restrictions on occupied Crimea. We will only accept Crimean goods in the EU if they come from the Ukraine and not Russia.''

He said the European Commission had been charged with drawing up further sanctions against Russia if there was any further attempts to destabilise Ukraine, promising they would have ''far-reaching economic consequences''.